Savings Account/Credit Score

moochoo2 · 8 May 2012 at 1:49PM

Hi Everyone

My girlfriend and I are starting to save a deposit to buy a flat/house together. We are planning to open a joint account with Nationwide, but before we do I wanted to check if anyone knew whether this was a bad idea or not.

We live at separate addresses currently and both have 'excellent' credit scores. I understand that by opening this account, it will link us together. Can anyone see any negative effects by doing this? I wondered about the different addresses thing as multiple addresses seems to unnerve the credit rating sites.

Any tips would be appreciated.

Many thanks

Moochoo2

Hooloovoo · 8 May 2012 at 1:52PM

Do you trust that she wont find a new fella and run off with all the money?

Do you both pay tax? If so filling up your ISAs would be a more efficient method saving. Then combine the money when you buy the house.

Is there any particular reason why you want to save in a joint account? Instead of asking what are the negatives, have you asked yourself what are the positives? I can't think of any positives to be honest.

Lokolo · 8 May 2012 at 1:52PM

Negative effects? You split up, one of you decides to splash the cash and maybe even default. Both of you are e/affected.

Not even sure how the address's would work, I would assume you can only have 1.

Savings Account/Credit Score

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